FuelCell Energy (NASDAQ:FCEL) Stock Price Down 14.2% – Here’s Why

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price was down 14.2% on Friday . The company traded as low as $18.50 and last traded at $18.37. Approximately 1,924,056 shares traded hands during trading, a decline of 59% from the average daily volume of 4,717,069 shares. The stock had previously closed at $21.40.

Wall Street Analyst Weigh In

FCEL has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group set a $7.20 price target on FuelCell Energy and gave the company a “hold” rating in a research report on Tuesday, March 10th. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $8.24.

FuelCell Energy Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 7.96 and a quick ratio of 6.51. The business has a 50 day moving average price of $13.71 and a 200 day moving average price of $9.85. The stock has a market capitalization of $952.39 million, a PE ratio of -2.60 and a beta of 2.42.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.16. The company had revenue of $30.53 million for the quarter, compared to analysts’ expectations of $42.22 million. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. As a group, equities research analysts expect that FuelCell Energy, Inc. will post -2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FCEL. Kestra Advisory Services LLC purchased a new position in shares of FuelCell Energy in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after acquiring an additional 7,080 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in FuelCell Energy in the fourth quarter worth about $78,000. Independent Advisor Alliance bought a new stake in shares of FuelCell Energy during the 3rd quarter valued at about $80,000. Finally, Franklin Resources Inc. purchased a new stake in shares of FuelCell Energy during the 4th quarter valued at about $84,000. 42.78% of the stock is owned by hedge funds and other institutional investors.

FuelCell Energy Company Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.